The State Financial Corporation Bill, having been passed by both the Houses of Parliament, received the assent of the President of India on 31st October 1951. It came on the Statute Book as State Financial Corporations Act, 1951 (63 of 1951). The act provides that "the State Government may, by notification in the Official Gazette, establish a Financial Corporation for the State under such name as may be specified in the notification".

In accordance with the above Central Act, the Travancore Cochin Financial Corporation was incorporated on 01.12.1953. Consequent to the reorganization of states on linguistic basis in November 1956, Kerala State was formed and the Travancore Cochin Financial Corporation was renamed as Kerala Financial Corporation.

FUNCTION

Kerala Financial Corporation (KFC) plays a major role in Industrial growth by extending Industrial Finance to Service Sector projects.

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